Today I’m looking at a new binary options trading software that puts all of the focus on the brokerage, Legit Broker. According to the sales page “90% of all systems fail because of bad brokers and you end up getting scammed.” The developers of this product are at risk of spending so much time focused on the brokers, that they don’t reveal any real information about their trading system.
The website was registered on 2017-04-23, so just a month ago. There is no address provided for the business location, but you can contact support via email email@example.com. They promise to have support that is “above industry standards,” so I recommend emailing them and testing that theory.
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Legit Broker Review
As I mentioned at the beginning of the review, the Legit Broker development team over emphasizes the importance of the brokerage so much that they don’t even tell us about their own trading system. They believe that their system offers the best of both worlds, “an industry-leading automated trading software coupled with an outstanding broker lineup.”
They recommend Stockpair, 24Option, Binary Capital Markets and BDSwiss.
While I do recommend one of the four brokers here, there is another issue. That issue is the fact that you have to register and deposit with one of these brokerages in order to gain access to the software. Now, if you are like me you already have deposits with your binary options broker and potentially the brokers listed. I don’t want another brokerage account, I have the perfect amount of brokerage accounts to handle my trading as is.
There is no way to get around this either, you have to sign up with the broker in order to receive the software.
There are for features that the Legit Broker developers want us to be aware of.
- Broker Investigation – They want us to know that they periodically test each and every one of their brokers to make sure that they receive a “clean bill of health.”
- Speedy Withdrawals – Again, another comment about the broker but not about their own software.
- Customer Service – They promise to have professional answers from highly trained agents.
- User Friendly – They ensure that their trading interface is easy to use, and that all the brokers they recommend must have extensive education sections.
There really isn’t much emphasis on the strategy, or anything else regarding the Legit Broker application. All we are told is that the system takes advantage of a trend indicator, and a stochastic indicator. Each of these indicators is explained, but the explanations are very basic and don’t indicate to us how they are utilized within the system itself.
It’s very unsure if the developers of this program have any trading experience, because their sales page is rudimentary.
There is nothing that suggests to me at least that the Legit Broker trading software is ready for the big stage. They don’t provide us with any real strategic analysis, and there are no trading statements or verified trading results. The developers focus so heavily on binary options brokers that they ignore their own product, which is what they are trying to promote.
Please leave a comment or any feedback you may have about this software or anything involving binary options.